zavvie recently released a new “Seller Preferences Report,” covering all selling solutions available to homeowners throughout the U.S. from October to December 2020.
Last year, “iBuyers were down but definitely not out,” said Stefan Peterson, zavvie chief data officer and co-founder. “iBuyers continued expanding into new markets and are buying higher-priced homes, meeting seller demand and delivering high seller satisfaction. But the biggest surprise for sellers in 2020 is the rapid emergence of the bridge buy-before-you-sell providers.” The new report provides all the details.
The zavvie “Seller Preferences Report” is a quarterly review for every selling solution available to homeowners throughout the U.S. The report looks specifically at activity among iBuyers and the increasing influence of bridge solutions nationwide. It examines offer strength, offer acceptance rates, service fees, average concessions and time to close for selling solution providers.
The zavvie “Seller Preferences Report” Q4 and 2020 year-end highlights are:
– iBuyer purchases fell 57% last year from 2019.
– iBuyer and bridge provider “buy boxes” (their targeted purchase price range, age and other conditions) continued to widen in Q4.
– iBuyers’ offer strength is down 3.1%, year-over-year, falling from 98.6% of market price in 2019 to 95.1% in Q4
– Offer acceptance rate for iBuyers continues to rise to 6.1% in Q4, a 45% increase from 2019.
– Bridge solutions are hotter than ever: Offers continued to be accepted much more frequently than iBuyer offers as the bridge offer acceptance rate was five times higher than for iBuyer offers in Q4.
– Bridge programs expanded their buy boxes to include homes up to $2 million and in lower-population-density areas.
– iBuyer service fees dropped significantly in Q4 and for the full year, down 21% from 7.6 percent in 2019 to 6% in 2020.
– iBuyer average concessions, time to close, and seller satisfaction all were higher in Q4. Notably, average seller satisfaction passed 9.0 on a scale of 1-10.
“The new zavvie “Sellers Preference Report” helps empower the modern agent,” added Peterson, pointing out that zavvie also recently released its new Verified Buyer Map. This interactive nationwide map shows where leading iBuyer and bridge solution providers operate.
“The modern agent brings iBuyer, bridge solutions and an open market listing—all of the selling options—to the table. Instead of fearing what disruptors are doing, the modern agent co-ops these new selling methods because they are the trusted advisor,” added Peterson. “The modern agent helps consumers fully understand all their choices, showing the advantages and disadvantages of each.”
For more information, please visit zavvie.com/seller-preferences.